The Business Exchange Bath & Somerset Issue 4: Summer 2017 | Page 29
HOUSING: THE MOST IMPORTANT
THING ON THE POLITICAL AGENDA
by Philip Cobb, Director, Cobb Farr
Aside from Brexit, housing is perhaps one of the most important
items on the political agenda. Asked for his number one policy,
Jeremy Corbyn said it was tackling the housing crisis. And then
in their manifesto, Theresa May and the Conservatives outlined
radical proposals to allow councils to buy brownfield and pocket
sites, at cheaper prices to enable building of “a new generation
of social housing.”
Theresa May said she would allow
councils to borrow more money and
reform compulsory pur chase powers.
Currently councils assume that
planning permission is gained and they
would pay a price accordingly, but May
is suggesting that they would pay a
price more in line with the value of the
land without planning permission.
Many people believe that this
sentiment of trying to increase land
supply is a good idea as it would
result in more houses being built. It
is however controversial, because
although the CPO (compulsory
purchase order), would leave more
money for councils to invest in social
housing, it could also leave land
owners short changed forcing them to
give up their land for less.
Although this concept would go
completely against Tory principles of
the past 50 years, it is a radical way for
the Conservatives to try and solve the
housing crisis. It might have proved
popular with voters, but convincing
everyone in the property sector might
be a different matter.
[email protected]
@CobbFarr
THE BUSINESS EXCHANGE 2017
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